The subjects comprise mid-terraced retail premises forming part of a larger traditional buildingadjoining a public house and where the upper floors are in residential use.
Externally the subjects benefit from a large double shopfront onto High Street.
Internally the subjects provide large open-plan accommodation with public front area and staff / customer toilets, kitchen tea prep found to the rear.
Location
The subject property is located in Airdrie approximately 13 miles east of Glasgow and 5 miles east of neighbouring Coatbridge. The town has a population of approximately c37,410 people and an immediate catchment in excess of 321,000.
More specially the subject property is located within the heart of Airdrie town centre commanding a highly prominent position on the north side of High Street at its intersection with North & South Bridge Street.
Neighbouring occupiers include “Stirrup Stane” Public House, Aldi, Tesco Express, Lloyds Pharmacy and Dominos Pizza.
Accommodation
NIA - 92.23 sq m (993 sq ft)
ITZA - 86.41 sq m (930 sq ft)
Terms
Offers over £183,000 are invited for our client’s heritable interest in the subjects with the benefit of the existing lease being in place.
A purchase at this level reflects a net initial yield of 8.5% assuming purchasers costs of 1.98%.
Business Rates
The subjects are entered in the Valuation Roll with a Rateable Value of £7,500.
EPC
Available on request.
Tenancy Information
- Let to Coral Racing Ltd on FRI terms expiring 21 February 2027
- No breaks
- Passing rent of £15,872
- Tenant option to extend for a further 15 years at expiry
- Experian Credit Risk Score – Below Average Risk
VAT
No VAT is payable on the purchase price.